And a market that is extended, failed at important resistance on Friday.
I am ney short with partial hedges
Will add SHORTS above ES 4370 ( NEW SEPTEMBER CONTRACT)
Wild Week: OPEX, FED, CPI, BOJ, PBOC, ECB....
Started by
dTraderB
, Jun 11 2023 05:36 PM
66 replies to this topic
#2
dTraderB
-
- Traders-Talk User
- 17,711 posts
Member
#3
dTraderB
-
- Traders-Talk User
- 17,711 posts
Member
Posted 11 June 2023 - 05:49 PM
What Could Go Wrong This Week? Ummmm, A Lot!
Tom Bowley | June 11, 2023 at 11:50 AM
I remain steadfastly bullish, but I do recognize reasons to be short-term cautious when I see them. I suppose the first question is, "what does it mean to be cautious." Well, I can only tell you what it means to me. While I still believe it makes sense to be long to some degree, I would not be a fan of being in leveraged ETFs on the long side. It has nothing to do with whether we go higher or lower next week. Instead, it has everything to do with managing risk. Folks, we're really overbought AND we just failed at key price resistance on the S&P 500. Check this out:
https://stockcharts....s-week-290.html
Not every top sees stochastic at 80-90 and RSI at 70, but you can see from the above chart that when the stochastic reaches at least 80, you should at least be thinking that a possible short-term top is at hand. The RSI 70 level is always one to keep an eye on. We're not there yet, but RSI 65 is a high level compared to what we've mostly experienced over the past year. We're overbought to some degree without a doubt. The bigger issue, however, is that 4305.20 was the key closing price resistance and 4325.28 was the intraday high - both occurring on August 16, 2022. I don't like failed breakout attempts in any market.
https://stockcharts....s-week-290.html
Tom Bowley | June 11, 2023 at 11:50 AM
I remain steadfastly bullish, but I do recognize reasons to be short-term cautious when I see them. I suppose the first question is, "what does it mean to be cautious." Well, I can only tell you what it means to me. While I still believe it makes sense to be long to some degree, I would not be a fan of being in leveraged ETFs on the long side. It has nothing to do with whether we go higher or lower next week. Instead, it has everything to do with managing risk. Folks, we're really overbought AND we just failed at key price resistance on the S&P 500. Check this out:
https://stockcharts....s-week-290.html
Not every top sees stochastic at 80-90 and RSI at 70, but you can see from the above chart that when the stochastic reaches at least 80, you should at least be thinking that a possible short-term top is at hand. The RSI 70 level is always one to keep an eye on. We're not there yet, but RSI 65 is a high level compared to what we've mostly experienced over the past year. We're overbought to some degree without a doubt. The bigger issue, however, is that 4305.20 was the key closing price resistance and 4325.28 was the intraday high - both occurring on August 16, 2022. I don't like failed breakout attempts in any market.
https://stockcharts....s-week-290.html
#4
dTraderB
-
- Traders-Talk User
- 17,711 posts
Member
Posted 11 June 2023 - 05:52 PM
"The Bureau of Labor Statistics will report the May consumer price index on Tuesday, and the Federal Open Market Committee makes its monetary-policy decision on Wednesday."
And a market that is extended, failed at important resistance on Friday.
I am ney short with partial hedges
Will add SHORTS above ES 4370 ( NEW SEPTEMBER CONTRACT)
#5
dTraderB
-
- Traders-Talk User
- 17,711 posts
Member
Posted 11 June 2023 - 05:57 PM
Adam Mancini (@AdamMancini4) tweeted at 11:50 AM on Sat, Jun 10, 2023:
Have a great weekend! FOMC and CPI this week meaning the most volatile & unpredictable week of the year ahead
Plan next week:
Keeping it basic. #ES_F broke out a 4 month range last Friday at 4285, and the August highs are a magnet for this ~4430.
4285 must hold on any CPI sells
https://t.co/IoXfIVazEb
Have a great weekend! FOMC and CPI this week meaning the most volatile & unpredictable week of the year ahead
Plan next week:
Keeping it basic. #ES_F broke out a 4 month range last Friday at 4285, and the August highs are a magnet for this ~4430.
4285 must hold on any CPI sells
https://t.co/IoXfIVazEb
#6
dTraderB
-
- Traders-Talk User
- 17,711 posts
Member
Posted 11 June 2023 - 06:00 PM
Jeffrey A. Hirsch (@AlmanacTrader) tweeted at 3:19 PM on Fri, Jun 09, 2023:
June Triple Witching (Quad if you prefer) Options expiration historically volatile.
Since 1982, DJIA, S&P 500 & NASDAQ have recorded average losses on Monday, Friday, and the week.
https://t.co/8JZR4p1j80https://t.co/f9hOcsaRVR
June Triple Witching (Quad if you prefer) Options expiration historically volatile.
Since 1982, DJIA, S&P 500 & NASDAQ have recorded average losses on Monday, Friday, and the week.
https://t.co/8JZR4p1j80https://t.co/f9hOcsaRVR
#7
dTraderB
-
- Traders-Talk User
- 17,711 posts
Member
Posted 11 June 2023 - 06:02 PM
POLL: DOWN
Helene Meisler (@hmeisler) tweeted at 7:00 AM on Sat, Jun 10, 2023:
Saturday Poll.
The next 100 points for the S&P?
(https://twitter.com/...0343116800?s=03)
Helene Meisler (@hmeisler) tweeted at 7:00 AM on Sat, Jun 10, 2023:
Saturday Poll.
The next 100 points for the S&P?
(https://twitter.com/...0343116800?s=03)
Jeffrey A. Hirsch (@AlmanacTrader) tweeted at 3:19 PM on Fri, Jun 09, 2023:
June Triple Witching (Quad if you prefer) Options expiration historically volatile.
Since 1982, DJIA, S&P 500 & NASDAQ have recorded average losses on Monday, Friday, and the week.
https://t.co/8JZR4p1j80https://t.co/f9hOcsaRVR
#8
dTraderB
-
- Traders-Talk User
- 17,711 posts
Member
Posted 11 June 2023 - 06:03 PM
Bespoke (@bespokeinvest) tweeted at 3:11 PM on Sun, Jun 11, 2023:
The S&P closed 2+ standard deviations above its 50-DMA for 5 straight days recently. Prior times it reached these levels since 2022 ended up being short-term peaks.
Read more: https://t.co/QQ4VsugmRZ https://t.co/flNVLi7WPp
(https://twitter.com/...6608028673?s=03)
The S&P closed 2+ standard deviations above its 50-DMA for 5 straight days recently. Prior times it reached these levels since 2022 ended up being short-term peaks.
Read more: https://t.co/QQ4VsugmRZ https://t.co/flNVLi7WPp
(https://twitter.com/...6608028673?s=03)
POLL: DOWN
Helene Meisler (@hmeisler) tweeted at 7:00 AM on Sat, Jun 10, 2023:
Saturday Poll.
The next 100 points for the S&P?
(https://twitter.com/...0343116800?s=03)Jeffrey A. Hirsch (@AlmanacTrader) tweeted at 3:19 PM on Fri, Jun 09, 2023:
June Triple Witching (Quad if you prefer) Options expiration historically volatile.
Since 1982, DJIA, S&P 500 & NASDAQ have recorded average losses on Monday, Friday, and the week.
https://t.co/8JZR4p1j80https://t.co/f9hOcsaRVR
#9
dTraderB
-
- Traders-Talk User
- 17,711 posts
Member
Posted 11 June 2023 - 06:05 PM
(@tomthetrader1) tweeted at 10:32 AM on Sun, Jun 11, 2023:
S&P 500 thoughts: Don't get lost in the euphoria. The greed is not limited to retail participants alone, even active fund managers have positioned their clients with the most bullish exposure since the market peaked in January 2022.
The chart of the S&P 500 marks the relative
https://t.co/NsgFrheZUp
(https://twitter.com/...9562920960?s=03)
S&P 500 thoughts: Don't get lost in the euphoria. The greed is not limited to retail participants alone, even active fund managers have positioned their clients with the most bullish exposure since the market peaked in January 2022.
The chart of the S&P 500 marks the relative
https://t.co/NsgFrheZUp
(https://twitter.com/...9562920960?s=03)
Bespoke (@bespokeinvest) tweeted at 3:11 PM on Sun, Jun 11, 2023:
The S&P closed 2+ standard deviations above its 50-DMA for 5 straight days recently. Prior times it reached these levels since 2022 ended up being short-term peaks.
Read more: https://t.co/QQ4VsugmRZ https://t.co/flNVLi7WPp
(https://twitter.com/...6608028673?s=03)POLL: DOWN
Helene Meisler (@hmeisler) tweeted at 7:00 AM on Sat, Jun 10, 2023:
Saturday Poll.
The next 100 points for the S&P?
(https://twitter.com/...0343116800?s=03)Jeffrey A. Hirsch (@AlmanacTrader) tweeted at 3:19 PM on Fri, Jun 09, 2023:
June Triple Witching (Quad if you prefer) Options expiration historically volatile.
Since 1982, DJIA, S&P 500 & NASDAQ have recorded average losses on Monday, Friday, and the week.
https://t.co/8JZR4p1j80https://t.co/f9hOcsaRVR
#10
dTraderB
-
- Traders-Talk User
- 17,711 posts
Member
Posted 11 June 2023 - 06:08 PM
Look at this:
Macro Charts (@MacroCharts) tweeted at 9:33 AM on Sat, Jun 10, 2023:
Good luck with that.
https://t.co/s4WvT0fjwm
(https://twitter.com/...2405402629?s=03)
Macro Charts (@MacroCharts) tweeted at 9:33 AM on Sat, Jun 10, 2023:
Good luck with that.
https://t.co/s4WvT0fjwm
(https://twitter.com/...2405402629?s=03)
(@tomthetrader1) tweeted at 10:32 AM on Sun, Jun 11, 2023:
S&P 500 thoughts: Don't get lost in the euphoria. The greed is not limited to retail participants alone, even active fund managers have positioned their clients with the most bullish exposure since the market peaked in January 2022.
The chart of the S&P 500 marks the relative
https://t.co/NsgFrheZUp
(https://twitter.com/...9562920960?s=03)Bespoke (@bespokeinvest) tweeted at 3:11 PM on Sun, Jun 11, 2023:
The S&P closed 2+ standard deviations above its 50-DMA for 5 straight days recently. Prior times it reached these levels since 2022 ended up being short-term peaks.
Read more: https://t.co/QQ4VsugmRZ https://t.co/flNVLi7WPp
(https://twitter.com/...6608028673?s=03)POLL: DOWN
Helene Meisler (@hmeisler) tweeted at 7:00 AM on Sat, Jun 10, 2023:
Saturday Poll.
The next 100 points for the S&P?
(https://twitter.com/...0343116800?s=03)Jeffrey A. Hirsch (@AlmanacTrader) tweeted at 3:19 PM on Fri, Jun 09, 2023:
June Triple Witching (Quad if you prefer) Options expiration historically volatile.
Since 1982, DJIA, S&P 500 & NASDAQ have recorded average losses on Monday, Friday, and the week.
https://t.co/8JZR4p1j80https://t.co/f9hOcsaRVR
